Corcept Therapeutics Announces Second Quarter Financial Results and Provides Corporate Update
Second quarter 2021 GAAP net income was $26.5 million, compared to $28.3 million in the second quarter of 2020.
- Second quarter 2021 GAAP net income was $26.5 million, compared to $28.3 million in the second quarter of 2020.
- Excluding non-cash expenses related to stock-based compensation and the utilization of deferred tax assets, together with related income tax effects, non-GAAP net income in the second quarter was $38.2 million, compared to $39.7 million in the second quarter of 2020.
- Second quarter operating expenses were $59.6 million, compared to $53.3 million in the second quarter of 2020, due to increased employee compensation expenses, commercial spending, spending on clinical trials in Cushings syndrome and pre-clinical activities.
- Our second quarter results reflect the fact that physicians are seeing their patients more frequently, which allows them to diagnose and optimally treat those who have Cushings syndrome.